{"id":7632,"date":"2020-11-29T07:03:00","date_gmt":"2020-11-29T12:03:00","guid":{"rendered":"https:\/\/www.grantwatch.com\/grantnews\/?p=7632"},"modified":"2020-11-25T19:03:42","modified_gmt":"2020-11-26T00:03:42","slug":"arkansas-opens-up-50-million-grant-program-to-help-small-businesses-during-covid-19","status":"publish","type":"post","link":"https:\/\/www.grantwatch.com\/grantnews\/arkansas-opens-up-50-million-grant-program-to-help-small-businesses-during-covid-19\/","title":{"rendered":"Arkansas Opens Up $50 Million Grant Program To Help Small Businesses During COVID-19"},"content":{"rendered":"\n<p>At GrantNews, we&#8217;ve written quite a bit on the devastating impact that the <a href=\"https:\/\/www.grantwatch.com\/cat\/56\/coronavirus-covid-grants.html\" target=\"_blank\" rel=\"noreferrer noopener\">COVID-19<\/a> pandemic (<em>and measures that have been taken as a result<\/em>) have had on small businesses. It&#8217;s absolutely heartbreaking to look at the numbers and seeing the sheer amount of small businesses that have gone out of business, seen devastating deficits, or are on the verge of closing. Several state governments and local governments have had to try and figure out a solution to mitigate the damage, which is why we&#8217;ve seen CARES act funded Small Business Grant Programs announced in states and counties all over the country. And now Arkansas is the latest state to announce a $50 million small business grant program aimed at ensuring hospitality and service sector businesses can stay afloat. <\/p>\n\n\n\n<p>Stacy Hurst, Arkansas Secretary for Parks, Heritage and Tourism announced this grant program last week, saying: <\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>We settled on this approach, which is a business interruption grant. And we\u2019re hoping that we can get some money to those that need it most to help them stay afloat a little longer in this COVID economy.&#8221; <\/p><\/blockquote>\n\n\n\n<p><strong>Here&#8217;s how this grant program will work: <\/strong><\/p>\n\n\n\n<p>Arkansas businesses who have 250 employees or less may seek reimbursement for business expenses related to COVID-19 mitigation or certain listed interruption expenses due directly to <strong>local, state, or federal government<\/strong> COVID-19 related directives.  But there are limits to how these funds can be spent. <\/p>\n\n\n\n<p><strong>On how these funds can be spent Secretary Hurst says that<\/strong>: <\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>The federal guidelines require that we use or grant the money out in a certain way. And so, the way that we will be allowing application is for expense reimbursement, and there are specific expenses that are allowed by the feds that businesses can claim reimbursement for. It\u2019s not a revenue replacement program, but we can cover lost revenue to the extent that your business has been impacted, for example, from COVID. <\/p><\/blockquote>\n\n\n\n<p><strong>The Secretary spoke on eligibility requirement for these grant funds<\/strong>: <\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>So, our formula is this: that we will allow businesses that are eligible to apply for reimbursement on certain expenses. And then, we will also look at the change in sales tax revenue from 2019 to 2020. So, for those businesses that are eligible, DF&amp;A will provide sales tax revenue from 2019 to 2020 and we\u2019ll look at the change. So, that will be an indicator of economic impact.&#8221; <\/p><\/blockquote>\n\n\n\n<p>Grant funds will hopefully be able to provide some much-needed relief for the beleaguered small businesses of <a href=\"https:\/\/alaska.grantwatch.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Arkansas<\/a> and help them to survive through this continuing pandemic. <\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>At GrantNews, we&#8217;ve written quite a bit on the devastating impact that the COVID-19 pandemic (and measures that have been<\/p>\n","protected":false},"author":12,"featured_media":7698,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_sb_is_suggestion_mode":false,"_sb_show_suggestion_boards":false,"_sb_suggestion_history":"","_sb_update_block_changes":"","_is_real_time_mode":false,"_realtime_collaborators":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"enabled":false},"version":2}},"categories":[138,118,147],"tags":[],"class_list":["post-7632","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-grants","category-latest"],"yoast_head":"<!-- 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Many of these states have received federal grant funds through the CARES ACT, and have used\u2026","rel":"","context":"In &quot;Business&quot;","block_context":{"text":"Business","link":"https:\/\/www.grantwatch.com\/grantnews\/business\/"},"img":{"alt_text":"photo of lake surrounded by trees during golden hour","src":"https:\/\/i0.wp.com\/www.grantwatch.com\/grantnews\/wp-content\/uploads\/2020\/11\/pexels-photo-2526040.jpeg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.grantwatch.com\/grantnews\/wp-content\/uploads\/2020\/11\/pexels-photo-2526040.jpeg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.grantwatch.com\/grantnews\/wp-content\/uploads\/2020\/11\/pexels-photo-2526040.jpeg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.grantwatch.com\/grantnews\/wp-content\/uploads\/2020\/11\/pexels-photo-2526040.jpeg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.grantwatch.com\/grantnews\/wp-content\/uploads\/2020\/11\/pexels-photo-2526040.jpeg?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/www.grantwatch.com\/grantnews\/wp-content\/uploads\/2020\/11\/pexels-photo-2526040.jpeg?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":5959,"url":"https:\/\/www.grantwatch.com\/grantnews\/virginia-gets-70-million-grant-program-to-help-small-business\/","url_meta":{"origin":7632,"position":2},"title":"Virginia Gets $70 Million Grant Program To Help Small Business","author":"Lianne Hikind","date":"August 10, 2020","format":false,"excerpt":"The COVID-19 pandemic has hit everybody hard, and all over the United States, people are struggling. And while massive corporations might be able to weather the storm, small businesses with limited funds may not. State governments all over the country have had to come up with a way to assist\u2026","rel":"","context":"In &quot;Business&quot;","block_context":{"text":"Business","link":"https:\/\/www.grantwatch.com\/grantnews\/business\/"},"img":{"alt_text":"shallow focus photo of white open sigange","src":"https:\/\/i0.wp.com\/www.grantwatch.com\/grantnews\/wp-content\/uploads\/2020\/08\/pexels-photo-3345876-e1597270100830.jpeg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.grantwatch.com\/grantnews\/wp-content\/uploads\/2020\/08\/pexels-photo-3345876-e1597270100830.jpeg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.grantwatch.com\/grantnews\/wp-content\/uploads\/2020\/08\/pexels-photo-3345876-e1597270100830.jpeg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":11385,"url":"https:\/\/www.grantwatch.com\/grantnews\/10-grants-for-small-business-to-check-out-this-week-part-1\/","url_meta":{"origin":7632,"position":3},"title":"10 Grants For Small Businesses This Week: Part 1","author":"Lianne Hikind","date":"June 23, 2021","format":false,"excerpt":"Small businesses are the backbone of America. Small businesses in the United States bore the brunt of the restrictions and lockdowns from COVID-19 in so many ways. Furthermore, so many small businesses closed or came close to it. While some businesses were able to receive help from state and federal\u2026","rel":"","context":"In &quot;Business&quot;","block_context":{"text":"Business","link":"https:\/\/www.grantwatch.com\/grantnews\/business\/"},"img":{"alt_text":"business opening up","src":"https:\/\/i0.wp.com\/www.grantwatch.com\/grantnews\/wp-content\/uploads\/2021\/06\/Roller-Coaster-ans-type-2.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.grantwatch.com\/grantnews\/wp-content\/uploads\/2021\/06\/Roller-Coaster-ans-type-2.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.grantwatch.com\/grantnews\/wp-content\/uploads\/2021\/06\/Roller-Coaster-ans-type-2.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.grantwatch.com\/grantnews\/wp-content\/uploads\/2021\/06\/Roller-Coaster-ans-type-2.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":3303,"url":"https:\/\/www.grantwatch.com\/grantnews\/facebook-launches-grant-program-to-help-small-businesses\/","url_meta":{"origin":7632,"position":4},"title":"Facebook Launches Grant Program To Help Small Businesses","author":"Libby Hikind","date":"March 23, 2020","format":false,"excerpt":"As the Covid-19 pandemic rages on, there seems to be an unspoken (much spoken) agreement between the private and public sectors to try and do their part to help ease the destruction that this pandemic has brought. People all over the country are struggling, many have been laid off, and\u2026","rel":"","context":"In &quot;Business&quot;","block_context":{"text":"Business","link":"https:\/\/www.grantwatch.com\/grantnews\/business\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.grantwatch.com\/grantnews\/wp-content\/uploads\/2020\/03\/fbgrants.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.grantwatch.com\/grantnews\/wp-content\/uploads\/2020\/03\/fbgrants.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.grantwatch.com\/grantnews\/wp-content\/uploads\/2020\/03\/fbgrants.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":8948,"url":"https:\/\/www.grantwatch.com\/grantnews\/emergency-small-business-grant-funds-fast-tracked-through-nevada-assembly\/","url_meta":{"origin":7632,"position":5},"title":"Emergency Small Business Grant Funds Fast-Tracked Through Nevada Assembly","author":"Lianne Hikind","date":"February 14, 2021","format":false,"excerpt":"The Nevada Assembly approved $50 million in emergency small business grants. 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